Re: Exemptions - what to claim?

I used to claim 2 and now I don't know what to claim. Is there any easy translation to use with the new algorithm?

posted

Hello Alisong,

There are no exemptions in new W4 as personal exemptions are removed in new Tax Law. There are five Steps in the new Form W4 and everyone is required to fill up Steps 1 and 5.

Step 2 is required only if you have multiple jobs or if you are Married and filing jointly your spouse also earns income through W2. Step 3 is only required if you have dependents that you can claim and

Step 4 is only required if you have other income or deductions to claim.

Following is the link to new Form W4 :

https://www.irs.gov/pub/irs-pdf/fw4.pdf

Please let me know if you need any clarification on the above or have any additional questions.

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